UBS to price trigger autocallable contingent yield notes on Brent crude

By Marisa Wong

Morgantown, W.Va., May 24 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due May 31, 2019 linked to the relevant nearby ICE-traded Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13% to 13.75% per year if the futures contract price closes at or above the coupon barrier level, 75% of the initial price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the futures contract price closes at or above the initial price on any quarterly observation date other than the final one.

If the notes are not called and the final price is greater than or equal to the downside threshold level, 75% of the initial price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final price is less than the initial price.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes will price on May 25.

The Cusip number is 90281A397.

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